Juicy Couture Gets Squeezed
Fifth & Pacific Cos., known for it’s high-end women’s fashion and accessories, has agreed to sell its Juicy Couture brand to Authentic Brands Group. Juicy Couture, best known for its brightly-colored velour track suits, has been struggling. At the end of the first half of this year, Juicy Couture had 74 specialty retail stores and 50 outlet stores.
In the fall of 2011, the company formerly known as Liz Claiborne Inc. announced several transactions that would transform the company. It was selling its namesake Liz Claiborne family of brands to JCPenney, the Kensie brands to Bluestar Alliance, and Dana Buchman was being sold to Kohl’s. Fifth & Pacific Cos. was created in May 2012. The new name marked the company’s transition to a direct-to-consumer retailer, after decades of primarily serving department stores, and reflected the sale of the Liz Claiborne namesake brand. Taking inspiration from New York and California, the name was designed to communicate both the company’s reach and its potential.
Fifth & Pacific has been selling its brands and, with the sale of Juicy Couture, is now down to just Kate Spade and Lucky Brand. The company announced plans to sell Lucky Brand and focus on its higher-end Kate Spade brand. Kate Spade is growing internationally and with its lower-priced format, Kate Spade Saturday. The brand competes with high-end fashion brands Coach and Michael Kors, which both also operate outlet stores.